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Real Estate


North Austin shopping center gets new owner, new tenant

A new owner is working to breathe life back into a North Austin shopping center that lost its primary tenant a year ago. New York-based RD Management said this week it has acquired Shops at Tech Ridge, at 12901 N. Interstate 35 near East Parmer Lane. The 504,153-square-foot center, which opened in 2003, had been anchored by a SuperTarget store until January 2016, when the retailer shuttered its location...
New operator set to take over closed Lakeline Mall theater

New operator set to take over closed Lakeline Mall theater

A vacant theater at Lakeline Mall won’t stay dark for long. AMC Theatres said Wednesday that it will take over the recently closed Regal Lakeline Mall 9 cineplex at 11200 Lakeline Mall Drive. The theater is expected to reopen in nine months, following an extensive remodeling project that will cost several million dollars, according to Simon, Lakeline Mall’s operator. When it debuts in...
Asian grocer HMart plans first Austin store

Asian grocer HMart plans first Austin store

A grocery chain known for specializing in Asian delicacies is on its way to Central Texas. HMart plans to open its first Austin store at 11301 Lakeline Blvd., near Lakeline Mall, according to filings with city and state agencies. The store will take over adjoining buildings vacated when Bed Bath & Beyond and Sports Authority left the Parkline shopping center, documents show. Other nearby retailers...
Austin developer buys downtown IHOP site

Austin developer buys downtown IHOP site

A well-known local developer has purchased a high-profile site on the edge of downtown Austin, according to public records. The IHOP at Interstate 35 and East Cesar Chavez Street was acquired late last year by WC 707 Cesar Chavez LLC, an entity the Texas Secretary of State says is linked to World Class Capital Group. A purchase price was not disclosed. The Travis Central Appraisal District valued...
Letters to the Editor: January 6, 2017

Letters to the Editor: January 6, 2017

Re: Dec. 28 article, “Mexico has rapidly growing appetite for Texas natural gas.” Celebrating Mexico’s increasing appetite for Texas natural gas missed the point that while natural gas burns cleaner than coal it is a much more potent heat-trapping gas. During the process of fracking, extracting and transporting natural gas, methane is released into the atmosphere, where it is 100...
Town formerly known as Bikinis, Texas, listed for sale

Town formerly known as Bikinis, Texas, listed for sale

The site of a former Hill Country ghost town that was transformed, albeit briefly, into a controversial tourist destination by an Austin-based “breastaurant” chain is now back on the market. ATX Brands, which owns Bikinis Sports Bar and Grill, bought the property in the Fredericksburg area in 2012. The company initally said it had purchased the site of Bankersmith, but some nearby residents...
Events company plans to rehab 70-year-old North Austin building

Events company plans to rehab 70-year-old North Austin building

An Austin events company plans to breathe new life into a 70-year-old North Austin building. Red Velvet Events said this week it has acquired the 11,579-square-foot building at 7121 N. Lamar Blvd., and is planning a major renovation project to transform the space into the company’s new headquarters. Texas Discount Furniture previously occupied the site, which is near Capital Metro’s Crestview...
Austin housing market edges down in new Freddie Mac ranking

Austin housing market edges down in new Freddie Mac ranking

The Austin-area’s housing market ranks No. 13 among the nation’s top 100 metros in a new report by mortgage giant Freddie Mac. Austin’s latest ranking is down three spots from last month and down nine notches from a year ago, the report found. Local housing experts say slower job growth could be a factor in the declines. The Dallas metro area captured the nation’s No. 1 spot...
Grocer H-E-B buys 17 acres in Del Valle area

Grocer H-E-B buys 17 acres in Del Valle area

Grocer H-E-B has purchased 17.2 acres near Austin-Bergstrom International Airport in Southeast Austin, the company confirmed to the American-Statesman, adding to its development pipeline in a growing part of the Central Texas region. The tract is at the southeastern corner of FM 973 and Texas 71 and marks the first land acquisition in the Del Valle area for San Antonio-based H.E.B., the dominant grocery...
With the Grove settled, new battle emerging over Austin Oaks

With the Grove settled, new battle emerging over Austin Oaks

As the City Council lowered the curtain last week on one years-long development fight, approving a compromise over the Grove at Shoal Creek, another fight over growth prepared to take center stage. The redevelopment of Austin Oaks, more than two years in the making, got its first tentative vote of approval Thursday from the Austin City Council, setting the stage for the final rounds of battle...
Grocery chain H-E-B buys property in Del Valle area

Grocery chain H-E-B buys property in Del Valle area

Grocery chain H-E-B has purchased 17.2 acres near the Austin airport, the company confirmed to the American-Statesman, adding to its development pipeline in a growing part of the Central Texas region. The tract, at the southeast corner of FM 973 and Texas 71, is H-E-B’s first land acquisition in the Del Valle area. The purchase price was not disclosed. H-E-B said it doesn’t yet have a...
Blue Starlite drive-in moving from Austin to Buda

Blue Starlite drive-in moving from Austin to Buda

A beloved Austin movie theater is packing up and heading for Hays County. The Blue Starlite drive-in will soon leave the Austin Studios complex on East 51st Street in East Austin to make way for new development, but owner Josh Frank has been able to secure a 10-year lease on a new site in the Buda area that will allow him to dramatically expand the operation early next year. The new facility is expected...
New condo project planned for East Austin

New condo project planned for East Austin

A mixed-use project with 97 condominiums is under construction at Fourth and Chicon streets, part of a continuing surge of new development in East Austin. Family members of the late Roy Butler, a former Austin mayor, are providing capital for the $45 million project, which they have dubbed Fourth& (pronounced ‘Fourth And.’) The development is being built on 2.2 acres one block from the...
3-story project planned for South Congress site

3-story project planned for South Congress site

Same name, new project. The former St. Vincent de Paul thrift shop, which had been a fixture on South Congress Avenue for more than two decades, is about to take on new life as the space is renovated and a three-story building with shops and offices is built next to it. The project, called Saint Vincent, is expected to break ground in the first quarter of 2017 along a section of South Congress that...
Austin City Council signs off on the Grove, ending two-year fight

Austin City Council signs off on the Grove, ending two-year fight

The Austin City Council has given final approval to the Grove at Shoal Creek, a controversial Central Austin development that could bring up to 1,500 new housing units to the city’s core. The project, approved on a series of votes late Thursday, largely ratified the agreement hammered out between the developer, ARG Bull Creek, and the surrounding neighborhoods after nearly two years of raucous...
City Council approves The Grove, ending two years of controversy

City Council approves The Grove, ending two years of controversy

The Austin City Council gave final approval to The Grove at Shoal Creek, a controversial Central Austin development that could bring another 1,500 housing units to the city’s core. The project, approved with a series of votes late Thursday, largely ratified the agreement hammered out between the developer, ARG Bull Creek, and the surrounding neighborhoods following nearly two years of raucous...
Central Texas housing market stays on record pace

Central Texas housing market stays on record pace

Central Texas home sales soared nearly 16 percent in November over the same month last year, keeping the Austin area on track for a sixth straight year of record volume, the Austin Board of Realtors said Thursday. In its latest report, the board said 27,107 houses have been sold through the end of November, 3.7 percent more than during the same period in 2015. Once December’s sales are in, the...
November surge keeps Austin-area home sales on record pace

November surge keeps Austin-area home sales on record pace

Central Texas home sales soared nearly 16 percent in November over the same month last year, keeping the Austin area on track for a sixth straight year of record volume, the Austin Board of Realtors said Thursday. In its latest report, the board said 27,107 houses have been sold through the end of November, 3.7 percent more than during the same period in 2015. Once December’s sales are tallied...
Austin district properties fetch up to $90 million in bids

Austin district properties fetch up to $90 million in bids

Staff writer Shonda Novak contributed to this report. The Austin school district on Wednesday afternoon unveiled the 40 bids and proposals for 10 of its properties, including the district’s headquarters just west of downtown. Some of the proposals are intended to create affordable housing in Austin. The city of Austin, Alamo Drafthouse Cinemas and several well-known developers and nonprofits...
Higher turnout near the Grove, Austin Oaks fueled Alter’s victory

Higher turnout near the Grove, Austin Oaks fueled Alter’s victory

Update: This story has been updated to clarify that the North West Austin Civic Association supports the Austin Oaks project redesign, which it participated in, but the group does not have a binding deal with the developer. Austin City Council Member-elect Alison Alter’s election win Tuesday night threw new doubts on two major developments planned for the West Austin district she will begin...
17-story apartment tower rising near UT campus

17-story apartment tower rising near UT campus

Work is under way on a $60 million, 17-story student housing tower on Rio Grande Street near the University of Texas campus, the latest in a series of residential projects being built or planned in the area. The project, called Aspen West Campus, is going up at 1909 Rio Grande St. The developer is Aspen Heights Partners, an Austin-based firm, teaming with Grand China Overseas Investment Management...
New boutique hotel planned behind Guero’s in SoCo neighborhood

New boutique hotel planned behind Guero’s in SoCo neighborhood

The owners of Guero’s Taco Bar on South Congress Avenue are adding a three-story hotel behind the well-known restaurant, a project planned amid a new wave of change sweeping Austin’s storied avenue. The hotel, currently named Kimber Modern SoCo, will be a new boutique prototype by Austinite Kimber Cavendish. Eight years ago, Cavendish developed the first Kimber Modern hotel, which is located...

New, smaller Target to open near UT campus

In what’s being called a “gamechanger” for the Drag near the University of Texas campus, Target confirmed Thursday that it will open a smaller version of its department store next to the campus next year. The 22,000-square-foot store will be at West 21st and Guadalupe streets in Dobie Twenty21, a 27-story residential and retail tower. The store is scheduled to open in July, Target...
Austin City Council largely embraces Grove compromise

Austin City Council largely embraces Grove compromise

The Austin City Council on Tuesday appeared to largely embrace the compromise that will allow a controversial Central Austin development to move forward. Under the compromise, announced Monday, the developer of The Grove at Shoal Creek agreed to increase the amount of affordable housing by 25 percent, trim the amount of office and retail space by about 10 percent and pay for traffic safety and sidewalk...
Condos, shops, offices set for site near School for Deaf

Condos, shops, offices set for site near School for Deaf

A mixed-use project will bring about 70 condos, plus space for shops and offices, to a site across from the Texas School for the Deaf in South Austin. Austin-based PSW Real Estate, which specializes in in-fill development, expects to break ground on the building, at 900 S. First St., early next year, with completion set for 2019. PSW has owned the site for about five years, according to Ross Wilson...
Plans withdrawn for 11-story Spicewood Springs hotel

Plans withdrawn for 11-story Spicewood Springs hotel

An application to build a controversial 11-story hotel on Spicewood Springs Road has been temporarily withdrawn, according to an Austin city council member. In an email message to her constituents, Sheri Gallo, who represents District 10, said developer David Kahn made the decision a day after meeting with Gallo and her senior policy advisor. Plans for the hotel, which was scheduled for 6315 Spicewood...
Plans withdrawn for 11-story Spicewood Springs hotel

Plans withdrawn for 11-story Spicewood Springs hotel

An application to build a controversial 11-story hotel on Spicewood Springs Road has been temporarily withdrawn, according to an Austin city councilwoman. In an email message to her constituents, Sheri Gallo, who represents District 10, said developer David Kahn made the decision a day after meeting with Gallo and her senior policy advisor. Plans for the hotel, which would have been located at 6315...
Developer, neighborhood group reach deal on the Grove at Shoal Creek

Developer, neighborhood group reach deal on the Grove at Shoal Creek

After a months-long battle, the developer of the Grove at Shoal Creek and a group representing many of the surrounding neighborhoods have reached a deal that will allow the project to move forward. The deal, announced Monday, is a turning point in the two-year political drama over the 75-acre site at 45th Street and Bull Creek Road, one of the few big, mostly vacant parcels left in the central city...
Family-run business grows into Austin real estate power

Family-run business grows into Austin real estate power

It has been 40 years since Michele Turnquist launched her residential real estate career with her first deal, but she easily remembers the day. “It was 7 a.m. My client held (my daughter Kathryn) while I wrote an offer on the hood of the car,” Turnquist recalls. That was in 1976. Today, Turnquist and her daughter, Kathryn Scarborough, rank among the top luxury residential real estate agents...

New, smaller Target to open near UT campus

In what’s being called a “gamechanger” for the Drag near the University of Texas campus, Target confirmed Thursday that it will open a smaller version of its department store next to the campus next year. The 22,000-square-foot store will be at West 21st and Guadalupe streets in Dobie Twenty21, a 27-store residential and retail tower. The store is scheduled to open in July, Target...
Target will open store near UT next year

Target will open store near UT next year

Target confirmed Thursday that it will open a store adjacent to the University of Texas campus next year. The 22,000-square-foot store will be located at West 21st and Guadalupe streets, in the Dobie Twenty21 development. It’s set to make its debut in July 2017. Formerly known as Dobie Mall, the center – once home to an arthouse movie theater – has been undergoing a number of renovations...
Buyer, seller agree to nix $114M deal for Lakeway shopping center

Buyer, seller agree to nix $114M deal for Lakeway shopping center

A Lakeway shopping center won’t be changing hands after all. A $114 million purchase agreement for the Oaks at Lakeway, at 1900 S. RM 620, has been terminated by the buyer, Massachusetts-based TA Realty LLC, according to a securities filing by the seller, Austin-based developer Stratus Properties Inc. The cash transaction, which would have netted Stratus about $50 million, turned out to be a...
Doc’s Motorworks closing on South Congress

Doc’s Motorworks closing on South Congress

After an 11-year run, Doc’s Motorworks is closing its location on South Congress Avenue in Austin effective Dec. 23, the bar and grill’s owner said Monday. The news comes as the new owners of the property plan a mixed-use project on the land that currently houses Doc’s and several other businesses. Doc’s Motorworks opened in 2005 at 1123 South Congress as the first Doc&rsquo...
SXSW headquarters plans move to new 12-story Austin office tower

SXSW headquarters plans move to new 12-story Austin office tower

South by Southwest is in line to get some new digs. An entity connected to the festival organizer is proposing a 12-story office tower in downtown Austin that would be valued at $41 million, according to filings with the city of Austin and the state. The proposed project comes at a time when SXSW has been dealing with a space crunch at its current offices at 400 Bowie St. In addition to SXSW, space...

Proposals in to develop county-owned block in downtown Austin

Travis County has received proposals from eight development firms or teams that are interested in leasing or buying a prime county-owned block just south of Republic Square in downtown Austin. The companies are: Cielo Property Group teaming with Gables Residential; Cousins Properties Inc.; Endeavor Real Estate Group Ltd; Hanover Co. teaming with Brandywine; Lincoln Property Co.; Riverside Resources...
Fairmont Austin hits pinnacle of construction

Fairmont Austin hits pinnacle of construction

The $370 million Fairmont Austin on downtown’s eastern edge reached its tallest point of construction on Friday, a milestone for what will be the city’s largest hotel . “This is an important milestone for an extraordinary addition to Austin,” said Doug Manchester, president of Manchester Texas Financial Group, the developer of the hotel at East Cesar Chavez and Red River streets...
Austin-area home sales decline in October

Austin-area home sales decline in October

Home sales across Central Texas were down in October from the same month last year, new figures show, but the median sales price was up and local real estate agents say the market remains strong despite some cooling. In its latest monthly report, the Austin Board of Realtors said 2,219 homes were sold in October, 3.1 percent fewer than in October 2015. Half of those homes sold for less than $279,000...

Austin’s Domain to get first housing project for seniors

A California developer is entering the Texas market with a project that would be the first of its kind at the mixed-use Domain in North Austin — a senior-living community. Senior Resource Group, based in Solana Beach, Calif., plans to build a complex of three buildings — 6-, 7- and 11-stories tall — that would have 230 rental units for independent living, assisted living and memory...
UT regents approve plan to lease downtown block for development

UT regents approve plan to lease downtown block for development

A block of downtown Austin property is one step closer to being converted from higher education administration to a mixed-use development. University of Texas System regents on Thursday authorized system officials to negotiate a lease of the property — which is bounded by West Sixth, West Seventh, Lavaca and Colorado streets — to a unit of Dallas-based Trammell Crow Co. for 95 years. The...
Developer, mobile home park residents reach deal on relocation

Developer, mobile home park residents reach deal on relocation

Residents of the Cactus Rose mobile-home park in East Austin have reached an agreement for relocation assistance with Oden Hughes, a developer that wants to build an upscale apartment complex on the site that would displace the remaining tenants. Oden Hughes’ purchase of the land is contingent on a proposed zoning change. A vote on that change was scheduled at the City Council’s meeting...
UT board expected to authorize lease of downtown block for development

UT board expected to authorize lease of downtown block for development

A block of downtown Austin property is poised to advance one step closer to being converted from higher education administration to a mixed-use development. University of Texas System regents on Thursday were expected to authorize system officials to negotiate a lease of the property — which is bounded by West Sixth, West Seventh, Lavaca and Colorado streets — to a unit of Dallas-based...
Saxon Pub: Same spot, new landlord for Austin music venue

Saxon Pub: Same spot, new landlord for Austin music venue

In a change of plans for a landmark Austin music venue, the Saxon Pub plans to stay put at its South Austin location and start its next chapter with a new landlord: Gary Keller, head of Austin-based Keller Williams Realty Darryl Frost, a spokesman for Keller Williams, said the purchase of the property at 1320 South Lamar Boulevard is due to close by the end of the year. “The Saxon has a long...
New details on planned downtown Austin towers

New details on planned downtown Austin towers

The developers of two upscale residential towers in downtown Austin recently released new renderings of the high-rises that are expected to help reshape the city’ skyline. New York-based Sackman Enterprises is building 70Rainey, a 34-story condo tower under construction on Rainey Street on downtown’s southeastern edge. The high-rise will have 20,000 square feet of landscaped outdoor amenity...
Austin-area home starts hit 6-year high in 3rd quarter

Austin-area home starts hit 6-year high in 3rd quarter

Homebuilding in Central Texas revved up in the third-quarter to its highest level in six years, new figures show. Builders started construction on more than 4,000 houses in the Austin area from July through September, an 11.1 percent increase compared with the year-ago quarter, housing tracker Metrostudy said. The 4,067 starts was the highest quarterly level in six years, Metrostudy said, and approached...
A Texas revival of midcentury modern design

A Texas revival of midcentury modern design

A distinctive collection of 29 houses in Leander designed in the mid-century modern style has piqued interest from around the world, including cable television networks. A family of U.S. military veterans is behind the custom-home development, called Starlight Village. The developer, Mike Kopecky, is teaming with his wife, Theresa Kopecky, and his father, Willie Kopecky, on the self-financed project...
39-story apartment tower planned for downtown Austin

39-story apartment tower planned for downtown Austin

A local developer plans to build a 39-story luxury apartment tower in downtown Austin, on a site that now houses Sullivan’s Steak House. The high-rise is planned for a quarter-block piece of property at the northwest corner of West Third and Colorado streets in the Warehouse District. Developer Riverside Resources has submitted preliminary plans to the city of Austin for the apartment tower...

Triangle finally comes together

Nearly 10 years after a local developer announced plans for a major shopping center at the intersection of North Lamar Boulevard and Guadalupe Street, the first businesses are finally moving into The Triangle. Among the first expected to open early next year is Mandola's Italian Market, a restaurant and imported food and wine store that is the latest venture of Damian Mandola. He's the nationally...
Take a video tour of Tyler Perry's $25 million estate

Take a video tour of Tyler Perry's $25 million estate

Tyler Perry’s estate was listed for sale for $25 million last year and just sold for $17.5 million.  The new owner is an "out-of-state buyer who got a good value," The Atlanta Journal-Constitution reported. "(It's) quite a deal for that volume of land in the most prestigious ZIP code in Atlanta. The land alone sold for $9 million back in 2005 when Tyler bought it,"...
Trump’s former $95 million mansion to be torn down

Trump’s former $95 million mansion to be torn down

An oceanfront mansion Donald Trump sold to a Russian billionaire for $95 million in 2008 is going to be torn down. The demolition of the estate, which was the largest single residential sale ever in Palm Beach, Florida, was approved this week. Long before he became the 2016 Republican presidential front-runner, Trump purchased the mansion in 2004 at a foreclosure auction for $41.4 million. He then...
9 cities where it's getting cheaper to rent

9 cities where it's getting cheaper to rent

It will come as a surprise to no one that rent prices in most of the country’s largest markets are expected to rise in 2016, according to a forecast from real estate data company Zillow. But there’s some good news in that forecast, even for people who live in some of the most expensive cities in the country: Rents won’t increase as much as they have been, Zillow predicts. >...
88-year-old nearly loses her home after mortgage company thinks she’s dead

88-year-old nearly loses her home after mortgage company thinks she’s dead

An 88-year-old woman almost lost her home because her mortgage company mistakenly thought she was dead, WKRN-TV reported. Minnie Fish took out a reverse mortgage years ago as a way to pay her taxes and bills, so when the company thought she was dead, it cut off access to the loan and prevented Fish from making payments. When she got the loan, the agreement said the company could...
Dr. Oz just bought this $18 million mansion

Dr. Oz just bought this $18 million mansion

Television personality and heart surgeon Dr. Oz and his wife are evidently behind the purchase of Louwana, a landmarked house built in 1919 that changed hands last week via an $18 million deed, according to records filed with the Palm Beach County Clerk’s Office. A three-year $5 million mortgage on the beachfront house bears the signatures of Mehmet C. Oz, better known simply as Dr. Oz, and...
Travis County puts civil courthouse bond election on ballot